Do you have a complaint?
If you have a complaint, please tell us so we can fix the problem. We will
investigate the complaint, answer your questions and do all we can to resolve
the situation to your satisfaction. We recognise that even in the best run
organisations things can go wrong.
To assist us in helping you:
1. Gather all supporting documents about the matter of your complaint. Then
think about the questions you want answered and decide what you want us to do.
It might also be useful to speak with your financial adviser about the issue.
2. Next, contact us and explain the problem. You can contact us by phone, fax,
mail or email, or simply submit feedback
online. We will review the situation and if possible resolve it straight away.
Letting us know about the problem is often all that's required to resolve most
3. If at this stage the matter hasn't been resolved to your satisfaction, please
contact our Complaints Resolution Officer. They will review your case.
If you are still not satisfied, you can contact the Superannuation Complaints
Tribunal (SCT) or Financial Ombudsman Service (FOS).
How can you contact us?
You can contact us by:
If you phone, your call will be answered by one of our Investor Services team
who will take the details of your complaint and refer it to a complaints
officer for further investigation.
How long will it take before we get back to you?
Our aim is to resolve the complaint as quickly as possible. We ensure that any
complaint is properly considered and responded to swiftly, and in most cases
this will be within 14 days. However, some matters are more complex and can
take a little longer to resolve. If that is the case, we'll keep you informed
of our progress.
What if your complaint is still not resolved?
We expect that we will completely resolve the issues you raise. If, despite our
best efforts you believe your complaint has not been satisfactorily dealt with,
or if you have not received a response within a set period, you may wish to
contact an external dispute resolution service. (We have 90 days to respond to
a complaint regarding a superannuation/pension product, and 45 days to respond
to a complaint regarding a general investment product).
Colonial First State is
a member of two external dispute resolution services covering superannuation
and general investments. So depending on what you are invested in, you can
contact one of the organisations listed below.
For investors in Superannuation/Pension funds
Superannuation Complaints Tribunal
The Superannuation Complaints Tribunal (SCT) is an independent tribunal set up
by the Commonwealth Government to resolve most complaints in relation to
Superannuation Funds. The contact details for the SCT are:
Superannuation Complaints Tribunal
Locked Bag 3060
GPO MELBOURNE VIC 3001
Phone: 1300 780 808
Fax: 03 8635 5588
You would contact the SCT if the dispute is in relation to one or more of the
Rollover and Superannuation Fund
FirstChoice Personal Super
FirstChoice Wholesale Personal Super
Personal Pension Plan
FirstChoice Wholesale Pension
FirstChoice Employer Super
YourChoice - Self Managed Super
For investors in Investment funds
Financial Ombudsman Service (FOS) provides accessible, fair and independent dispute resolution services for consumers and financial service providers. The contact details for FOS are:
Financial Ombudsman Service Limited
GPO Box 3
Melbourne VIC 3001
Phone: 1300 78 08 08
Fax: 03 9613 6399
You would contact FOS if the dispute is in relation to the following products:
Managed Investment Fund
FirstChoice Wholesale Investments
Cash Management Trusts
Unit pricing adjustment policy
There are a number of factors used to calculate unit prices. The key factors include asset valuations, liabilities, debtors, the number of units on issue and where relevant transaction costs. When the factors used to calculate the unit price are incorrect an adjustment to the unit price may be required. We generally use a variance of 0.30% (0.05% for a cash investment option) in the unit price before correcting the unit price.
If a unit pricing error is greater than or equal to these variances we will:
- compensate your account balance if you have transacted on the incorrect unit price or make other adjustments as Colonial First State may consider appropriate, or
- where your account is closed, we will send you a payment if the amount of the adjustment is more than $20.
These tolerance levels are consistent with regulatory practice guidelines and industry standards. In some cases we may compensate where the unit pricing error is less than the tolerance levels.